Gumalu: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Gumalu
Largest movements
- Receivables within one year -€419,545
down €419,545 (-84.9%), from €494,090 to €74,545
of which Other amounts receivable: -€233,000
- Cash -€37,905
down €37,905 (-66.0%), from €57,474 to €19,570
mainly Debts after one year (-€692,695) and Trade debts (-€91,267)
- Debts after one year -€692,695
down €692,695 (-45.5%), from €1.5m to €829,284
of which Other amounts payable: -€630,000
- Other debts +€276,520
new in 2025: €276,520
- Trade debts -€91,267
down €91,267 (-98.3%), from €92,847 to €1,580
- Reserves +€64,164
up €64,164 (+15.5%), from €414,326 to €478,491
- Tax, wage and social debts -€28,513
down €28,513 (-50.8%), from €56,167 to €27,653
of which Taxes: -€26,013
- Financial income -€290,000
down €290,000 (-100.0%), from €290,000 to €0
- Gross operating margin -€73,623
down €73,623 (-39.8%), from €184,773 to €111,149
- Taxes -€18,712
down €18,712 (-53.8%), from €34,775 to €16,064
- Financial charges +€5,963
up €5,963 (+49.5%), from €12,042 to €18,005
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,150,762 | €1,681,223 | -€469,539 | -21.8% |
| Fixed assets | 21/28 | €1,598,237 | €1,586,070 | -€12,167 | -0.8% |
| Tangible fixed assets | 22/27 | €48,237 | €36,070 | -€12,167 | -25.2% |
| Furniture and vehicles | 24 | €48,237 | €36,070 | -€12,167 | -25.2% |
| Financial fixed assets | 28 | €1,550,000 | €1,550,000 | = | 0.0% |
| Current assets | 29/58 | €552,525 | €95,154 | -€457,371 | -82.8% |
| Amounts receivable within one year | 40/41 | €494,090 | €74,545 | -€419,545 | -84.9% |
| Trade receivables | 40 | €204,090 | €17,545 | -€186,545 | -91.4% |
| Other amounts receivable | 41 | €290,000 | €57,000 | -€233,000 | -80.3% |
| Cash at bank and in hand | 54/58 | €57,474 | €19,570 | -€37,905 | -66.0% |
| Deferred charges and accrued income | 490/1 | €960 | €1,039 | +€78 | +8.2% |
| Total equity and liabilities | 10/49 | €2,150,762 | €1,681,223 | -€469,539 | -21.8% |
| Equity | 10/15 | €419,326 | €483,491 | +€64,164 | +15.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €414,326 | €478,491 | +€64,164 | +15.5% |
| Distributable reserves | 133 | €414,326 | €478,491 | +€64,164 | +15.5% |
| Amounts payable | 17/49 | €1,731,435 | €1,197,733 | -€533,703 | -30.8% |
| Amounts payable after more than one year | 17 | €1,521,979 | €829,284 | -€692,695 | -45.5% |
| Financial debts | 170/4 | €471,979 | €409,284 | -€62,695 | -13.3% |
| Other amounts payable | 178/9 | €1,050,000 | €420,000 | -€630,000 | -60.0% |
| Amounts payable within one year | 42/48 | €209,457 | €368,449 | +€158,992 | +75.9% |
| Current portion of amounts payable after more than one year | 42 | €60,442 | €62,695 | +€2,252 | +3.7% |
| Trade debts | 44 | €92,847 | €1,580 | -€91,267 | -98.3% |
| Suppliers | 440/4 | €92,847 | €1,580 | -€91,267 | -98.3% |
| Taxes, remuneration and social security | 45 | €56,167 | €27,653 | -€28,513 | -50.8% |
| Taxes | 450/3 | €51,167 | €25,153 | -€26,013 | -50.8% |
| Remuneration and social security | 454/9 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Other amounts payable | 47/48 | - | €276,520 | +€276,520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,599 | €12,167 | -€432 | -3.4% |
| Other operating charges | 640/8 | €1,030 | €750 | -€280 | -27.2% |
| Gross operating margin | 9900 | €184,773 | €111,149 | -€73,623 | -39.8% |
| Operating profit (loss) | 9901 | €171,143 | €98,233 | -€72,911 | -42.6% |
| Financial income | 75/76B | €290,000 | €0 | -€290,000 | -100.0% |
| Recurring financial income | 75 | €290,000 | €0 | -€290,000 | -100.0% |
| Financial charges | 65/66B | €12,042 | €18,005 | +€5,963 | +49.5% |
| Recurring financial charges | 65 | €12,042 | €18,005 | +€5,963 | +49.5% |
| Profit (loss) for the period before taxes | 9903 | €449,102 | €80,228 | -€368,874 | -82.1% |
| Income taxes | 67/77 | €34,775 | €16,064 | -€18,712 | -53.8% |
| Profit (loss) for the period | 9904 | €414,326 | €64,164 | -€350,162 | -84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €414,326 | €64,164 | -€350,162 | -84.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.